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of <h1>Manufacturers Must Include Plastic Caps' Value in Tubes' Assessable Value, Per Supreme Court Ruling.</h1> The circular addresses the issue of manufacturers not including the value of plastic caps fitted on tubes in the assessable value, arguing that no charge is made for these caps. The Board, referencing a Supreme Court case, clarifies that the assessable value must encompass the entire intrinsic value of the article, regardless of whether the manufacturer incurs costs for certain components. Therefore, the value of caps should be included in the assessable value of tubes. Field formations are instructed to be informed accordingly, and acknowledgment of the circular's receipt is requested.
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